European Briefing - Tuesday 23.02
Headlines
  • US Relief Bill Moves Closer To House Vote After Budget Committee Approval
  • Biden Economy Chief Deese Sees Jobs As More Urgent Risk Than Inflation
  • US Treasury Nominee Vows To Combat China's Unfair Economic Practices
  • UK Chancellor Sunak Likely To Extend Help To Furloughed Workers Until May
  • BoE Policymaker Vlieghe Doubts He Will Ever See Rates Back At Five Percent
  • Conditions For Normalising Chinese Monetary Policy Seen This Year: Info Daily
  • Mega Cities Fan Chinese Home Prices Further In Test For Policymakers
  • Australian JobSeeker Lifted By $25 A Week, Employers Given Dob-In Powers
  • Oil Prices Rise With Tightening Market Boosting Outlook; Brent Tops $66
  • US Equity Futures Rise Ahead Of Fed Chair Powell Testimony Before Senate
  • HSBC Shares Rise In Hong Kong After Fourth Quarter Profit Beats Estimates
Commentary
Bells Toll For Lives Lost As US Reaches 500,000 Covid Deaths

The United States on Monday crossed the staggering milestone of 500,000 COVID-19 deaths just over a year since the coronavirus pandemic claimed its first known victim in Santa Clara County, California.

 

In a proclamation honoring the dead, President Joe Biden ordered the U.S. flag to be flown at half-staff on public buildings and grounds until sunset on Friday.

 

“On this solemn occasion, we reflect on their loss and on their loved ones left behind,” Biden said in the proclamation. “We, as a Nation, must remember them so we can begin to heal, to unite, and find purpose as one Nation to defeat this pandemic.” (Reuters - Continue Reading)

Market Is Getting Nervous About Powell’s Testimony This Week

Rising bond yields and accompanying inflation fears are adding a level of drama to Federal Reserve Chairman Jerome Powell’s appearance this week before Congress.

 

The central bank chair is slated to address Senate and House panels on successive days as part of mandated semiannual updates on monetary policy.

 

Normally routine affairs, recent financial market tumult and concerns about how the Fed may react have investors paying a bit more close attention than usual to the hearings scheduled for Tuesday and Wednesday. (CNBC - Continue Reading)

China’s Outbreaks Of Pig Diseases Spark Recovery Doubts

China’s farm ministry is touting a complete recovery in pig numbers from the ravages of African swine fever by the middle of the year. Fresh outbreaks of the virus and other lethal pig diseases could pose risks to that outlook.

 

A resurgence of swine fever cases in colder northern provinces prompted farmers to slaughter more of their breeding sows before the Lunar New Year, said Lin Guofa, a senior analyst at consultancy Bric Agriculture Group. Pork is China’s favorite meat and consumption typically booms over the holiday period.

 

Other viruses, such as foot-and-mouth disease and porcine epidemic diarrhea, have also taken their toll in outbreaks exacerbated by a harsher-than-usual winter, said Lin. “The recovery of hog herds in some regions could be delayed, particularly in Shandong and parts of Henan and Hebei,” he said. (Bloomberg - Continue Reading)

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